Coinbase donates $25 million to political action committee Fairshake

With the U.S. election approaching, Coinbase followed Ripple and a16z by donating $25 million each to its political action committee Fairshake, which could change the fortunes of cryptocurrencies. The cryptocurrency industry has raised around $161 million so far after Coinbase became the latest company to donate $25 million to a political action committee for this election, potentially making it one of the strongest campaign finance businesses in the United States.
The cash could cost the PAC more than $300,000 for each congressional seat contested in November.